Dong Nai approves US$3-billion urban area project
HCMC – The government of Dong Nai Province has approved of a 293-hectare urban area project worth more than VND72 trillion (US$3 billion) in Pho Island in Hiep Hoa Commune, Bien Hoa City. Hiep Hoa urban area would have an estimated population of 31,600 residents and cover 293 hectares of land. Of
Vietnam posts over US$4 billion in trade surplus in Q1
HCMC – Vietnam’s export revenue in the first quarter of this year has inched down but the country has enjoyed a trade surplus of US$4.07 billion, according to the General Statistics Office. Between January and March, the country’s import-export value has totaled an estimated US$154.27 billion. Of
Global minimum tax rate to impact FDI firms in Vietnam
HCMC – At least 1,015 foreign direct investment (FDI) enterprises will be affected by the global minimum corporate tax when this policy comes into force early next year. The issue was raised at a talk on the global minimum corporate tax – prospects and challenges in FDI attraction in HCMC held on
Vietnam’s GDP growth in Q1 lower than expected
HCMC – Vietnam’s gross domestic product (GDP) in the first quarter of 2023 has grown by 3.32% year-on-year, the second lowest growth rate since 2011, according to the General Statistics Office. This GDP growth rate fell short of the Government’s expectations of 5.6%. It is slightly higher than in
Indonesia’s strong demand seen boosting Vietnam’s rice exports
HCMC – The Indonesian Chamber of Commerce Vietnam (IndoCham Vietnam) said on March 27 that Indonesia is planning to import two million tons of rice to improve its 2023 reserves, offering an opportunity for Vietnam to ship more rice to the Southeast Asian market. The announcement came after a
VND50,000 billion proposed for two expy projects
HCMC – The Gia Nghia-Chon Thanh Expressway project will cost some VND29,986 billion, whereas the investment of the Nam Dinh-Thai Binh Expressway project is over VND18,000 billion. The Gia Nghia-Chon Thanh Expressway project will run from the Central Highlands to southern Vietnam, linking Gia Nghia
S.Koreans come to Khanh Hoa on chartered flight
HCMC – The south-central province of Khanh Hoa yesterday, March 18, welcomed South Korean tourists on board a chartered flight operated by Vietravel Airlines. Flight VU1329 is the first among a dozen chartered flights that will carry thousands of guests from the Northeast Asian country to Khanh
PM acts to deal with realty market woes
HCMC – Prime Minister Pham Minh Chinh has signed Document 178 ordering the lifting of hindrances to the real estate market and boosting the development of this sector. Earlier, the Government issued Resolution 33 on the same matter, under which the Ministry of Construction, the Ministry of Finance
New FDI approvals plunge in Q1
HCMC – Although the number of new FDI projects approved in the first quarter this year grew over the same period in 2022, their capital pledges edged down. Fresh foreign direct investments (FDI) in Vietnam, including newly registered capital, capital increases by operational projects, and capital
CAAV to trial biometric authentication at Van Don airport
HCMC – Following a test operation at the Cat Bi International Airport in Haiphong City, the Civil Aviation Authority of Vietnam (CAAV) will introduce biometric authentication technology at the Van Don International Airport in Quang Ninh Province. The Northern Airports Authority was told to keep a
Vietnam’s CPI inches up in Q1
HCMC – Vietnam’s consumer price index (CPI) in the year’s first quarter edged up around 4.3% year-on-year, showed official data. The Ministry of Finance attributed the CPI rise to a 7.2% increase in housing and construction material prices and a pickup of 4.5% in food prices. The increasing
Landed house ownership proposal for foreigners needs review
HCMC – The National Assembly Standing Committee has asked the Government to review a provision in the draft of the revised Housing Law that allows foreigners to own landed houses. If the draft is passed, foreign individuals and organizations can own homes in Vietnam, including landed ones with
